Stock Quotes in this Article: BAC, PBR, PLX

BALTIMORE (Stockpickr) -- Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.

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From hedge funds to individual investors, scores of market participants are turning to social media to figure out which stocks are worth watching. It's a concept that's known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.

Crowdsourcing has long been a popular tool for the advertising industry, but it also makes a lot of sense as an investment tool. After all, the market is completely driven by the supply and demand, so it can be valuable to see what names are trending among the crowd.

While some fund managers are already trying to leverage social media resources like Twitter to find algorithmic trading opportunities, for most investors, crowdsourcing works best as a starting point for investors who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at some of the most active stocks on the market today.

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These "most active" names are the most heavily-traded names on the market -- and often, uber-active names have some sort of a technical or fundamental catalyst driving investors' attention on shares. That's especially true now that earnings season is officially underway. And when there's a big catalyst, there's often a trading opportunity.

Without further ado, here's a look at today's stocks.

Bank of America

Nearest Resistance: $14.75

Nearest Support: $14

Catalyst: Technical Setup

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Bank of America (BAC) is no stranger to making the list of the NYSE's most active stocks purely because of its size -- the $155 billion bank is one of the most visible names in the financial sector. But today's price action is especially warranted thanks to a technical setup taking shape in shares of BAC.

BofA has been trending lower in the near-term since the middle of July, but since its price action has been constrained in a tight range, that correction has at least been easily measured. Today, BAC is testing trendline resistance; a breakout above $14.75 should be seen as a buy signal for the big bank.


Nearest Resistance: $17.50

Nearest Support: $14.75

Catalyst: Ainsworth Lumber Acquisition

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Small-cap building product manufacturer Louisiana-Pacific (LPX) is up more than 10% today on big volume, following news that the Nashville-based firm was acquiring Canadian lumber firm Ainsworth Lumber. The news came at the same time as a ratings hike from DA Davidson to "buy" -- not long after a similar upgrade at Deutsche Bank. That increasing analyst sentiment for LPX is helping to spur upside potential after a pretty poor start to the year.

Technically, LPX is forming a double bottom pattern, a reversal setup that's formed by two major swing lows that bottom out at approximately the same price level. The double bottom triggers a buy signal when and if LPX pushes through resistance at $17.50.


Nearest Resistance: $15

Nearest Support: $13.50

Catalyst: Libra Auction Announcement

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Last up is Petrobras (PBR), the $94 billion Brazilian oil and gas supermajor that's been a volatile name for the last month on emerging market news. Shares of PBR are up close to 6% in this afternoon's trading following the announcement that Brazil's government will auction off the Libra offshore oil field on Oct. 21. The deal is likely to be the most expensive energy project in history -- and it'll also likely mean that the buyer will have to partner up with Petrobras to develop the project.

PBR has been consolidating sideways in a tight rectangle pattern since the last week of July, and while today's move higher is big, it's not big enough to break PBR free of that sideways channel. Resistance at $15 is the level to watch for that. Expect a move through $15 to get followed up by more of the same.

PBR has been a volatile name of late, so make sure you keep a tight stop in place if you decide to trade PBR.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to

TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji